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Wage trends and deflation risks in Germany and Europe
Lohnentwicklung und Deflationsrisiko in Deutschland und Europa
[working paper]
Hein, Eckhard; Schulten, Thorsten; Truger, Achim
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Please use the following Persistent Identifier (PID) to cite this document:http://hdl.handle.net/10419/21566
Further Details
| Corporate Editor | Wirtschafts- und Sozialwissenschaftliches Institut in der Hans-Böckler-Stiftung |
| Abstract | "Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the deflationary development of unit labour costs in recent years, in particular in Germany, are analysed. Finally, the impact of deflationary wage policies on German and European stagnation are discussed and it is concluded that the excessive wage restraint in Germany not only exacerbates stagnation and deflationary tendencies in Germany but might also have a deflationary impact on the other EMU countries." (author's abstract) |
| Keywords | wage; development; price; labor market trend; labor costs; deflation; collective bargaining; monetary union; Federal Republic of Germany; EU; wage policy; monetary policy |
| Classification | Economic Policy |
| Method | empirical; quantitative empirical |
| Document language | English |
| Publication Year | 2004 |
| City | Düsseldorf |
| Page/Pages | 29 p. |
| Series | WSI-Diskussionspapier, 124 |
| Status | Published Version |
| Licence | Deposit Licence - No Redistribution, No Modifications |
| Document Type | working paper |
| data provider | This metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne |
